The SP500 overnight was trading higher however after 8am the traders started selling the futures and we opened below yesterday’s low. Which is negative in various time phrames. Later we traded to 1770 the psychological level I marked in the chart and which held so far.
The cash still exiting the market 6 days from the selloff. Today we had the Fed minutes which will give the market a catalyst to pick a direction.
EURUSD:
The last days we saw a tight range from 1.3650 to 1.37 what will not hold for long. I am still positive in the EUR. My stop is at 1.35
GOLD:
We are not short of gold yet because the risk reward trade is not good enough yet. We are looking for an optimal entry however in the area 1270 – 1275 we are not finding sellers yet.
And mining stocks are not giving us lower prices – thus we are holding the trade until the risk reward become beneficial.
